Accumulators are hydro-pneumatic devices which store non–compressible fluid under high pressure through an external source, which could be a spring, fluid, gas, or piston. Oil accumulators can be employed for various purposes, such as pulsation dampening, noise reduction, and leakage compensation. They come in various shapes; they can be made from different materials depending on their application, and are available for different pressure ranges. The most common types of accumulators used are bladder, piston, and diaphragm. Global drilling and exploration activities precipitated by the high demand for crude oil, and environmental concerns triggered by recent oil spills are driving the oil accumulator market. Oil accumulators have gained significance across the globe due to attempts to minimize environmental hazards during drilling and exploration activities.

The global oil accumulator market is primarily segmented on the basis of the design type employed into bladder, piston, and diaphragm accumulator. Secondly, it is segmented on the basis of its application; this includes blowout preventers, mud pumps, and offshore rigs. Lastly, the market is segmented based on the various regional markets into North America, Latin America, The Middle East, Europe, Asia-Pacific, and Africa. Each segment has been analyzed with respect to market trends, growth trends, and future prospects. The data has been analyzed from 2012 to 2019, and all the quantitative data with regard to segmentation is mentioned in terms of value ($million).

Huge market with estimated value of $1.43 Billion by 2019

The global oil accumulator market size in terms of value is expected to reach $1.43 Billion by 2019, growing at a CAGR of 9.9% from 2014 to 2019. The key factors responsible for this growth are the unique advantages offered by accumulators. These include the ability to prevent fluid loss, to dampen the pulsations and vibrations, to stabilize the rigs, to conserve energy, and to cope with erratic and uncontrolled flow in blowout preventers, mud pumps, and offshore rigs.

The oil accumulator market is also analyzed with respect to Porter's Five Force model. Different market forces such as the bargaining power of suppliers, bargaining power of buyers, degree of competition, threat from substitutes, and threat from new entrants are analyzed with respect to the accumulator industry. The report also provides the competitive landscape of the major market players, which includes mergers and acquisitions, awards and recognition, expansions, investments, agreements and contracts, and new product launches. These developments indicate the growth strategies used by key industry players to drive the overall oil accumulator market. Some of the key players include Parker Hannifin Corporation (U.S.), Bosch Rexroth Corporation (U.S.), Tobul Accumulator Inc. (U.S.), Nippon Accumulator Co. Ltd. (U.S.), and Eaton Corporation (Ireland).

The report classifies and defines the contract value for the accumulator industry. It covers qualitative data for different types of oil accumulators. The report also provides a comprehensive review of the major drivers, restraints, opportunities, winning imperatives, and key burning issues of the oil accumulator market.

Scope of the Report:

The global oil accumulator market is analyzed in terms of market size ($million) for the aforesaid applications, and types by region.

Figure 1 Research DesignFigure 2 Increase in Global Deepwater Drilling ActivityFigure 3 Market Size Estimation Methodology: Bottom-Up ApproachFigure 4 Market Size Estimation Methodology: Top-Down ApproachFigure 5 Overview of Oil & Gas Accumulator Market Share and CAGR, By Region, 2013Figure 6 North America Dominates the Oil & Gas Accumulator MarketFigure 7 Increasing Investments in Oil & Gas Exploration Driving the Oil & Gas Accumulator Market in Major EconomiesFigure 8 The BOP Application Will Hold the Largest Share in the Oil & Gas Accumulator Market for the Next Five YearsFigure 9 Bladder Accumulators Have the Largest Share in the North American MarketFigure 10 Africa is the Fastest Growing MarketFigure 11 Bladder Accumulators Will Continue to Be the Largest Market for the Next Five YearsFigure 12 Canada Dominates the Oil & Gas Accumulators MarketFigure 13 The U.S. Will Dominate the Market for Oil & Gas AccumulatorsFigure 14 Market Segmentation: Oil & Gas Accumulator MarketFigure 15 Increasing Drilling and Exploration Activities Will Spur the Demand for Oil & Gas AccumulatorsFigure 16 Increase in Investments Creates Opportunities for Key PlayersFigure 17 Sudden Decline in Brent Crude Oil Prices Since Mid 2014Figure 18 Average Spot Price of Crude Oil, 2013 – 2025 ($/BBL)Figure 19 Oil & Gas Accumulator Supply ChainFigure 20 The Increase in Global Deepwater Drilling Activities is Leading to High Demand for Oil & Gas AccumulatorsFigure 21 Porter’s Five Forces Analysis: Oil and Gas Accumulator MarketFigure 22 Bladder Accumulators Will Dominate the Global Oil & Gas Accumulator MarketFigure 23 BOP Application is Expected to Hold A Major Share of the Bladder Accumulator MarketFigure 24 Africa is Expected to Grow With the Highest CAGR for the Bladder Accumulator Market in the Next Five YearsFigure 25 The Mud Pump Application is Expected to Dominate the Diaphragm Accumulator Market for the Next Five YearsFigure 26 The Offshore RIG Application is Expected to Dominate the Piston Accumulator Market for the Next Five YearsFigure 27 Oil & Gas Accumulator Market Share, By Application, 2013Figure 28 Oil & Gas Accumulator Market Size, By Application, 2014-2019 ($Million)Figure 29 BOP Application Market Size, By Type, 2014-2019 ($Million)Figure 30 Africa is Expected to Grow at the Highest CAGR for BOP Application, By Region, in the Next Five Years ($Million).Figure 31 Latin America & Africa Will Have A High Growth Rate for the Next Five YearsFigure 32 North America is Expected to Dominate the Oil & Gas Accumulator Market for the Next Five YearsFigure 33 Bladder Accumulators Hold the Largest Share in the North American MarketFigure 34 U.S. has the Largest Market Share of All the Countries in the WorldFigure 35 BOP Application Holds the Largest Share in Latin AmericaFigure 36 China, Malaysia, and Indonesia are the Key Players in the Oil & Gas Accumulator MarketFigure 37 Companies Adopted New Product Launch as the Key Growth Strategy in the Past Four YearsFigure 38 Battle for Market Share: New Product Launch is the Key StrategyFigure 39 Geographic Revenue Mix of the Top 4 Market PlayersFigure 40 Eaton: Company SnapshotFigure 41 Eaton Corporation PLC.: SWOT AnalysisFigure 42 Nippon Accumulator Co., Ltd.: Company SnapshotFigure 43 Nippon Accumulator Co. Ltd.: SWOT AnalysisFigure 44 Parker Hannifin Corp.: Company SnapshotFigure 45 Parker Hannifin Corp.: SWOT AnalysisFigure 46 Bosch Rexroth USA: Company SnapshotFigure 47 Bosch Rexroth USA: SWOT AnalysisFigure 48 Technetics: Company SnapshotFigure 49 Technetics: SWOT AnalysisFigure 50 Hydac International GmbH: Company SnapshotFigure 51 Ge Oil & Gas: Company SnapshotFigure 52 Tobul Accumulator Inc.: Company SnapshotFigure 53 Hannon Hydraulics, LLC.: Company SnapshotFigure 54 Bolenz & Schafer GmbH: Company Snapshot

The global oil accumulator market is estimated to reach $1.43 Billion by 2019, growing at a projected CAGR of 9.9%, which signifies an increase in demand brought about by high growth in global exploration and production activities.

An accumulator is an energy storage device that stores potential energy through an external source, which could be either compressed inert gas or a spring, or so on. Accumulators are a crucial part of the oil & gas industry, particularly because of their applications. They are used to prevent fluid loss, cope with extreme erratic pressures and uncontrolled flow in a well, and can easily dampen vibrations and pulsations. They come in various shapes, have different applications, and are available for different pressure ranges. The increase in drilling and exploration activities drives the global oil accumulator market. Oil accumulators have varied applications, mainly in BOP, mud pumps, and offshore rigs. The BOP application is expected to hold the largest market share, that is, over 50%, of the total global market share. The most commonly used accumulator types are bladder, piston, and diaphragm, with bladder accumulators expecting the highest growth. North America is the leading market for oil accumulators, with the U.S. and Mexico dominating the region.

Growth in drilling and exploration activities: A driver of the oil accumulator market

The growth in drilling activities is attributed to the constant increase in the global energy demand. Drilling activities are expected to grow alongside the global oil demand, which is expected to increase by 2020. Additional drilling activities raise the need for various equipment, such as mud pumps, BOPs, and offshore rigs. The accumulator market is driven by the demand for equipment required on rigs.

Most of these companies rely on growth strategies such as new product launch, joint ventures and contracts, mergers and acquisitions, and investments and expansions in diversified geographic areas. The risk of failure involved in the industry is high due to the new and innovative products and technologies which are being introduced. All the major oil accumulator manufacturers and operators are focusing on producing new types of accumulators with different pressure ranges and specifications to gain a strong foothold in the market. Additionally, local players are aiming to strengthen their market positions to become global leaders.

The major oil accumulator types include bladder, piston, and diaphragm. Bladder accumulators have the largest market share.

Custom Market Research Services

We will customize the research for you, in case the report listed above does not
meet with your exact requirements. Our custom research will comprehensively cover
the business information you require to help you arrive at strategic and profitable
business decisions.